Morocco’s Central Bank Reports Drop in Counterfeit Currency, 7,300 Fake Bills Detected in 2021
Just over 7,300 counterfeit bills were detected in Morocco in 2021, according to a report presented to King Mohammed VI by the Wali of Bank Al-Maghrib (BAM), Abdellatif Jouahri.
With a value of 1.1 million dirhams (MDH), these counterfeit bills are mainly 200 dirham banknotes, accounting for a 61% share, the report presented on Saturday at the Royal Palace in Rabat specifies. The Wali of BAM stressed that despite this number of counterfeit bills detected, the counterfeiting rate has dropped from 6.1 bills in 2017 to 3.3 bills in 2021.
Regarding the secure identity and utility documents produced for its partners, BAM has manufactured and delivered 1.4 million biometric passports, 1.1 million electronic driver’s licenses, 1 million electronic vehicle registration certificates, 70,000 firearms licenses and 800,000 baccalaureate diplomas and grade reports for the Regional Academies of Education and Training (AREF).
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